Solana (SOL) Network Update Set to Launch in May 2024! Solana, a leading blockchain network, is preparing for a major update scheduled for May 27 for their mainnet beta. This update, version v1.18, is crucial for addressing ongoing congestion issues on the Solana network.
With bot-driven transactions, particularly involving meme coins, Solana is experiencing an increase in transaction failures, prompting the development team to implement significant enhancements. For more details, read on!
In recent months, Solana has rolled out a series of upgrades to enhance network performance. Collaboration with Anza, a key infrastructure developer, has facilitated the introduction of version 1.18.11 on the devnet on April 13. Validators are currently testing v1.18, essential for ensuring a smooth launch of the upcoming mainnet-beta.
Validator roles are pivotal in the blockchain ecosystem, confirming transactions and securing the network, making their input critical for the success of this update. Feedback from testing will significantly impact the success of the mainnet-beta launch.
Additionally, Solana developers released version 1.17.31 on April 15 to alleviate congestion, recommended for immediate use by MainnetBeta validators, part of broader efforts to stabilize the network amid transaction volume fluctuations.
These efforts underscore Solana's commitment to ensuring its network can handle increased demand and complex transactions. With planned updates, Solana is poised to enhance reliability and efficiency, bolstering its position in a competitive market. Despite technical advancements, Solana faces significant market volatility. While its currency value has dropped by over 22% since the beginning of the month, there has been a price recovery, will skyrocket $158 from a low of $116 in early April.
